MetiSpace Technologies, a new space systems engineering company, has been formed after a U.S. management buy-out from its Spanish parent company, Madrid-based GMV.

Led by President and CEO Theresa Beech, the former president of GMV USA, MetiSpace will continue to provide GMV satellite control and mission planning software to the U.S. aerospace “institutional” market. The company supports various satellite missions including Earth observation, defense, science and communications and has provided software for spacecraft such as NASA’s Tracking and Data Relay Satellite, Landsat Data Continuity Mission and Lunar Reconnaissance Orbiter, as well as the National Oceanic and Atmospheric Administration’s Geostationary Operational Environmental Satellite-R.

“A management buy out is rare in this industry,” Beech says. “The shareholders wanted to get out of the U.S. Institutional business and they offered us the opportunity,” she adds. “We are passing back the commercial business to GMV and that’s a transition.” However from a government and prime perspective, Beech says the business will continue as before and, under its new name, MetiSpace will continue as a privately held ground systems provider.

“We have a solid backlog of existing contracts but we are looking for new business,” she adds.